Hassan Maishera
On Tuesday, the Thorchain team announced via X that Limit Orders and Memoless Transactions are officially live on the ThorChain Mainnet. Limit Orders were activated with THORChain's new Advanced Swap Queue, which contains several enhancements over the old Swap Queue Manager.
THORChain's limit orders aren't a traditional order book that matches makers with takers. Limit orders interact cleanly with THORChain's Automatic Market Maker (AMM) and xy=k curve pricing.
Limit orders can be modified by using a special memo to modify the trade target. They also have a default maximum TTL of 3 days (43,200 blocks), however, this can be changed to be shorter duration if requested by the user when placing or modifying a limit order.
Memoless Transactions allow intents (swap, add liquidity, etc) to be pre-registered onchain, so that the native assets themselves don't need to include a memo, or can use a shortened memo. Memoless transactions allow interfaces to allow swaps without a wallet connection. When an interface registers a memoless transaction for a user, they can just send an amount with their encoded reference ID from their wallet to a THORChain vault.
THORChain is a decentralized cross-chain exchange where traders can swap cross-chain assets via liquidity pools across Binance Chain, Ethereum, and Bitcoin. RUNE is down 0.7% today and is currently trading at $0.7882.
